Common Reasons for a Retrospective Appraisal — Expanded
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Date of Death (Estate) Valuations
Establishes fair market value as of the decedent’s date of death (or an alternative valuation date if required) to support estate settlement, step-up in basis, and IRS filings. The analysis reflects only data and market conditions known on that historical date. -
Divorce or Dispute Resolution
Provides an impartial opinion of value as of a court-specified or negotiated date (e.g., separation, filing, or mediation date) to aid equitable distribution, buyouts, or settlements. The report documents relevant historical comparables and market trends in place at that time. -
Tax Assessment Appeals
Tests whether the assessor’s valuation date aligns with market evidence for that period. By reconstructing market conditions and sales prior to or around the statutory valuation date, the appraisal can help demonstrate over- or under-assessment. -
Damage or Casualty Claims
Determines the property’s pre-loss value as of the day before the event (fire, flood, storm, etc.) to quantify diminution in value and support insurance claims or litigation. The opinion is tied to verified, date-appropriate data and condition assumptions. -
Financial Audits and Historical Reporting
Supplies a past-date value for audits, year-end reporting, trust accounting, or compliance needs (e.g., verifying book values, impairment indicators, or historical fair value). The report clearly states the retrospective effective date, scope, and sources used.